Investorhttp://www.maclife.com/taxonomy/term/9350/all
enLaw & Apple: Court Discounts Jury Award, Investor Says Forget About That Lawsuithttp://www.maclife.com/article/columns/law_apple_court_discounts_jury_award_investor_says_forget_about_lawsuit
<!--paging_filter--><p><a href="http://www.maclife.com/tags/Law_Apple"><img src="/files/u315479/law-and-apple_200x150.jpg" alt="Law &amp; Apple" width="200" height="150" class="graphic-right" /></a>Two major developments this week in separate, high profile Apple lawsuits. It's like going back in time to tell the court "my bad." Step into our DeLorean today and we'll travel back in time to revisit some courtroom drama that is back in the news again.</p><h3>Apple vs. Samsung</h3><p>Remember that <a href="http://www.maclife.com/article/news/law_apple_jury_rules_apples_favor_most_epic_courtroom_battle_year" target="_blank">$1 billion the jury awarded Apple last summer</a> in the blockbuster lawsuit against Samsung? Well, <a href="http://www.wired.com/gadgetlab/2013/03/koh-slashes-apple-damages/?utm_source=tumblr&amp;utm_medium=socialmedia&amp;utm_campaign=tumblrclickthru" target="_blank">according to Wired</a>&nbsp;the federal judge in that case, Judge Lucy Koh, decided that the jury was a bit out of line when they came up with that number; in a ruling issued last week, Judge Koh announced <a href="http://www.maclife.com/article/news/apple_loses_half_1_billion_samsung_patent_award" target="_blank">she is reducing the award by 43 percent</a>.</p><p>Apparently, after reviewing the way the jury arrived at the $1 billion mark, Judge Koh realized that they used a method explicitly prohibited to them. Whoops.</p><p>"Though the Court gave a curative instruction, explicitly telling the jury that it was not allowed to apply that theory," Judge Koh stated in the ruling, "the amount of the award made plain that the jury had applied the impermissible theory anyway."</p><p style="text-align: center; "><img src="/files/u315479/samsung-ceo_intext.jpg" alt="Samsung CEO" width="620" height="400" /></p><p style="text-align: center;"><strong>Only $600,000,000 now? Winning!</strong></p><p>Judge Koh did not overturn any part of the verdict that determined Samsung did in fact infringe on Apple intellectual property; this ruling specifically changed the amount Samsung has to pay Cupertino. Though a Samsung representative stated they were pleased with the reduced award amount, it remains hard claim any sort of victory when you're still on the hook for nearly $600 million.</p><h3>Greenlight Capital vs. Apple</h3><p>While we're tripping down memory lane, remember that <a href="http://www.maclife.com/article/columns/law_apple_investor_scores_first_courtroom_point" target="_blank">high-profile investor lawsuit against Apple</a>, the one that reeked of being nothing but yet another public relations stunt by the investor? Turns out that's probably exactly what it was, because the lawsuit has been withdrawn.</p><p>According to <a href="http://www.usatoday.com/story/tech/2013/03/01/einhorn-drops-apple-lawsuit/1956795/" target="_blank">USA Today</a>, hedge fund manager David Einhorn has dropped his company's lawsuit against Apple, pretty much as soon as he was able to leverage the court to make Cupertino postpone a key investor vote. Apple was scheduled to hold a shareholder vote last week, but then U.S. District Judge Richard Sullivan granted Einhorn an injunction blocking the vote.&nbsp;</p><p style="text-align: center;"><img src="/files/u315479/tim-cook.jpg" alt="Tim Cook" width="620" height="300" /></p><p style="text-align: center;"><strong>Yeah, that's right...I said SILLY.</strong></p><p>This was basically all Einhorn wanted, <a href="http://www.usatoday.com/story/tech/2013/02/22/apple-einhorn-greenlight-capital/1939807/" target="_blank">to block the vote</a>; once accomplished, he cancelled the entire lawsuit, despite launching it just a few weeks before with all the choreographed media coverage of a pop star announcing a new world tour. It seems now that the significance of Einhorn's lawsuit carries pretty much the same gravitas as a pop star world tour, too.</p><p>Perhaps Tim Cook was spot-on from the beginning when <a href="http://www.maclife.com/article/columns/law_apple_hey_investor_tim_cook_says_your_lawsuit_just_silly" target="_blank">he characterized this particular legal drama as nothing more than a "silly slideshow."</a></p><p><em>Follow this writer, Adrian Hoppel, <a href="https://twitter.com/aphoppel" target="_blank">on Twitter</a>.</em></p>http://www.maclife.com/article/columns/law_apple_court_discounts_jury_award_investor_says_forget_about_lawsuit#commentsNewsApple vs. SamsungColumnsgreenlight capitalintellectual propertyInvestorJudge KohJudge SullivanLaw & AppleLawsuitWed, 06 Mar 2013 20:25:26 +0000Adrian Hoppel16407 at http://www.maclife.comLaw & Apple: Investor Scores First Courtroom Pointhttp://www.maclife.com/article/columns/law_apple_investor_scores_first_courtroom_point
<!--paging_filter--><p><img src="/files/u315479/law-and-apple_200x150.jpg" alt="Law &amp; Apple" width="200" height="150" class="graphic-right" />Hearings began this week in David Einhorn's lawsuit against Apple, and right away the rockstar hedge-fund manager got the court to lean a little in his favor. This case is going to be fast and furious, particularly with an Apple event just a few days away that Einhorn would like to see postponed. Is Einhorn just playing the role of greedy investor, trying to puppet-string the stock market with a slick PR campaign? Or does this lawsuit actually have some legitimate legs?</p><h3>Greenlight Capital vs. Apple</h3><p>Last week, we covered <a href="http://www.maclife.com/article/columns/law_apple_hey_investor_tim_cook_says_your_lawsuit_just_silly" target="_blank">why David Einhorn's investment company, Greenlight Capital, was bringing suit against Apple</a>; although it appears he has been given the cold shoulder by Cupertino executives for the past year, Einhorn's history of dramatic lawsuits also suggests some possible ulterior motives. However, right out of the gate, the judge overseeing this lawsuit announced he thought Einhorn was likely to win.</p><p>“I think success on the merits lies with Greenlight,” announced Federal judge Richard J. Sullivan at the end of the first day's hearing. Judge Sullivan also stated earlier in the day that he believed the way Apple was bundling issues for shareholders to vote on — a key Einhorn complaint — was likely against the rules.</p><p>Not a good start for the Cupertino legal team.</p><p style="text-align: center;"><img src="/files/u315479/tim-cook.png" alt="Tim Cook" width="620" height="300" /></p><p style="text-align: center;"><strong>When I called this lawsuit "silly," what I meant was that I hope it just goes away.</strong></p><p>In fact, the only thing that did not seem to go Greenlight's way was that Judge Sullivan did not rule on whether to grant Einhorn a preliminary injunction that would prevent Apple from holding shareholder voting on the questionable proposals. Not yet, at least. Apple had scheduled shareholder voting for February 27, and Einhorn would love to see that delayed pending the outcome of this case. According to&nbsp;<a href="http://dealbook.nytimes.com/2013/02/19/einhorn-has-edge-in-dispute-with-apple/" target="_blank">The New York Times</a>, Judge Sullivan is expected to announce his decision on this issue within days.</p><p>Round one clearly goes to Einhorn. Will it be enough to carry the case? Stay tuned, this one is going to move quickly. Either way, I guess this lawsuit isn't looking too "silly" anymore, is it Mr. Cook?</p><p><em>Follow the writer, Adrian Hoppel, on <a href="http://twitter.com/aphoppel" target="_blank">Twitter</a>.</em></p>http://www.maclife.com/article/columns/law_apple_investor_scores_first_courtroom_point#commentsNewsColumnsDavid Einhorngreenlight capitalInvestorJudge SullivanLaw & AppleLawsuitWed, 20 Feb 2013 19:29:50 +0000Adrian Hoppel16277 at http://www.maclife.comLaw & Apple: Hey Investor, Tim Cook Says Your Lawsuit is Just Sillyhttp://www.maclife.com/article/columns/law_apple_hey_investor_tim_cook_says_your_lawsuit_just_silly
<!--paging_filter--><p><a href="http://www.maclife.com/tags/law_apple"><img src="/files/u315479/law-and-apple_200x150.jpg" alt="Law &amp; Apple" width="200" height="150" class="graphic-right" /></a>A few weeks ago, we mentioned the <a href="http://www.maclife.com/article/columns/law_apple_samsung_ruling_resolved_while_investors_getting_antsy" target="_blank">growing discontent from some Apple investors</a>, and the lurking potential for legal action. Well, last Thursday one of Cupertino's high-profile investors did just that, and launched a lawsuit against Apple in Federal District Court in Manhattan. A few days ago, Tim Cook responded like a parent answering a child who won't stop asking for a pony. Nobody likes to get swept into a high-profile lawsuit, do they?</p><h3>Greenlight Capital vs. Apple</h3><p>David Einhorn is a rockstar hedge-fund manager whose company, Greenlight Capital, has been a huge supporter of Apple for years. Greenlight holds 1.3 million shares of Apple stock, worth over $609 million, and Einhorn staunchly believes Apple is "phenomenal" and a great investment; he just doesn't like the way Apple is hoarding cash. According to a financial blog at the <a href="http://dealbook.nytimes.com/2013/02/07/einhorn-to-sue-apple-over-plan-to-discard-preferred-stock/" target="_blank">New York Times</a>, he is willing to go a few rounds with the Apple legal department to get his point across.</p><p>Einhorn compares Apple to a survivor of the Great Depression, likening the company's near-collapse in 1997 to the stock-market crash of 1927. Like his grandmother who wouldn't leave voicemails for fear of wasting cell-phone minutes, Einhorn thinks Apple has a "cash problem" — the kind of problem that wins you a spot on that Hoarders show. He would like to see the Apple open up the checkbook a little more loosely, and reward the people who have been investing in the company.&nbsp;</p><p style="text-align: center;"><img src="/files/u315479/great-depression.png" alt="Great Depression" width="620" height="300" /></p><p style="text-align: center;"><strong>What if the next iPhone isn't great? That would be depressing.</strong></p><p>When Apple recently announced a plan to eliminate a type of stock that can be used to easily pay out to investors, and then rolled that proposal in with a few other very likable proposals for investors to vote on, Einhorn decided it was time to go to court. He wants the ideas broken up into separate proposals for voting, and he is calling on his fellow investors to vote against the elimination of the "so-called blank check preferred stock." Einhorn even offers an alternative plan, one that he has been pitching since last May and describes in glowing 2005 terms as a "win-win."</p><p>Tim Cook, speaking as the keynote speaker at the Goldman Sachs Internet and Technology Conference this past Tuesday, covered a wide range of Apple topics, but according to <a href="http://www.reuters.com/article/2013/02/12/us-apple-cook-idUSBRE91B12S20130212" target="_blank">Reuters</a>&nbsp;minced no words when describing how he felt about Einhorn's suit.</p><p>Referring to the lawsuit as a "silly sideshow," Cook went on to state that the legal action was "a waste of shareholder money and a distraction, and not a seminal issue for Apple." Cook mentioned that Einhorn's proposal from last spring was interesting, but also reinforced that Apple's board was already in "very active discussions" to hand investors a bigger chunk of its $137 billion hoard of cash.</p><p>Apparently feeling somewhat of a victim, since the company he leads has been the darling of wall street tech stocks for years until very recently, Cook commented that he found it very "bizarre that we would find ourselves being sued for doing something good for shareholders."</p><p>Poor Apple. It must have seemed odd to David Einhorn that Tim Cook even mentioned his proposal, since Einhorn claims he has been <a href="http://www.forbes.com/sites/ericjackson/2013/02/11/peter-oppenheimer-failed-when-david-einhorn-went-public-in-his-battle-against-apple/" target="_blank">pitiching it up and down Cupertino's corporate ranks since last May</a>. Apparently he felt like he was getting nowhere, and — maybe suspecting that Cupertino's preferred method of settling conflicts is to go to court — perhaps Einhorn felt he had no other option. Or perhaps this is a beautifullly crafted and publicized public attack on a company designed to manipulate stock prices, the sort of thing Einhorn has done <a href="http://dealbook.nytimes.com/2013/02/07/taking-on-apple-einhorn-has-a-history-of-public-calls/" target="_blank">many times in the past</a> to build up a cult following of Wall Streeters.</p><p>Either way, perhaps Apple is realizing it does sting a little when you are dragged into court by one-time friends who suspect you are trying to rip them off.</p><p><em>Follow this writer, Adrian Hoppel, <a href="https://twitter.com/aphoppel" target="_blank">on Twitter</a>.</em></p>http://www.maclife.com/article/columns/law_apple_hey_investor_tim_cook_says_your_lawsuit_just_silly#commentsNewsColumnsgreenlight capitalInvestorLaw & AppleLawsuitTim CookWed, 13 Feb 2013 19:50:16 +0000Adrian Hoppel16228 at http://www.maclife.comApple Stock Dips in After-Hours Tradinghttp://www.maclife.com/article/news/apple_stock_dips_afterhours_trading
<!--paging_filter--><p>Shortly before the stock markets closed this evening, news broke that <a href="http://www.maclife.com/article/news/steve_jobs_steps_down_ceo_apple" target="_blank">Steve Jobs would be stepping down</a> as CEO of Apple. This news definitely came as a shock to many in the Apple community, and that shock seems to have also affected Apple stock price in after-hours trading.<br /><br />While the company should remain strong under the leadership of Tim Cook, after hours trading is clearly showing investor uncertainty.</p><p>Apple’s stock opened with a strong $373.47, and had a day low of $370.60. The day progressed well, with the stock price hitting a day high of $378.96. The markets closed today with a price of $376.18 -- a change of 2.58 (0.69%).<em> [1]</em><br /><br /><strong>&nbsp;</strong></p><p style="text-align: center;"><img src="/files/u12635/applestock_82411_large.png" width="400" height="292" /></p><p style="text-align: center;"><strong>A daily graph of the AAPL stock for today.</strong></p><p style="text-align: left;">While the Apple stock price fared well before closing, after-hours trading has been a different story. The after-hours price has fallen 4.87% or -$18.32 so far, with an after-hours low of $350. <em>[2]&nbsp; </em></p><p style="text-align: left;">Will the stock continue to drop tomorrow when the market reopens? Probably, Steve has been so intertwined with Apple to investors that this was probably expected. We'll see how this shakes out over the coming weeks. <br /><br />You can find more investor information at the cited websites below:</p><p style="text-align: left;"><br />[1] <a href="http://investor.apple.com/stockquote.cfm?benchmark1=&amp;DisplayType=Area&amp;Period=0" target="_blank">Apple Stock Info | Apple Investor Website</a><br />[2] <a href="http://www.nasdaq.com/aspxcontent/ExtendedTradingTrades.aspx?selected=AAPL&amp;mkttype=after" target="_blank">NASDAQ: Apple Inc. (AAPL) After Hours Trading</a></p><p style="text-align: left;"><br /><em>Follow this article’s author, <a href="http://twitter.com/coryb" target="_blank">Cory Bohon on Twitter</a>.</em></p><p style="text-align: left;">&nbsp;</p>http://www.maclife.com/article/news/apple_stock_dips_afterhours_trading#commentsNewsannouncementApple Inc.CEOInvestorMarketNASDAQpress releaseSteve JobsStock PriceTim CookFeaturesWed, 24 Aug 2011 23:57:51 +0000Cory Bohon12153 at http://www.maclife.comFund Manager To Nintendo: Let’s Make This Smartphone Thing Happenhttp://www.maclife.com/article/news/fund_manager_nintendo_let%E2%80%99s_make_smartphone_thing_happen
<!--paging_filter--><p><img src="/files/u220903/super_mario_figure_200px.jpg" alt="Super Mario in store" width="200" height="150" class="graphic-right" />While no one can deny Nintendo had a huge hit on its hands with the Wii, outside of the living room a very different tale has unfolded. As the iPhone, iPod touch and iPad have risen in popularity, it’s coming at the expense of Nintendo’s own portable game systems.<br /><br /><a href="http://www.macrumors.com/2011/08/11/nintendo-faces-investor-pressure-to-brings-games-to-iphone/" target="_blank">MacRumors is reporting</a> that Nintendo is facing “increasing investor pressure” to port its popular games to the iPhone as well as other platforms. <a href="http://www.bloomberg.com/news/2011-08-10/mario-pressured-to-jump-to-iphone-as-nintendo-wii-3ds-slump.html" target="_blank">According to a new report from Bloomberg</a>, Nintendo president Satoru Iwata has gone on the record that the company “will only make titles for its own products as long as he’s in charge” -- a decision that’s not sitting well with investors.<br /><br />“The rift highlights the dilemma President Satoru Iwata faces as consumers shun Nintendo devices to play games on iPhones, iPads and Facebook Inc.’s website,” the report reveals. “The flop of the 3DS debut prompted the company to cut prices 40 percent in Japan and 32 percent in the U.S., the first time the games developer has resorted to such a move within six months of a product’s debut.”<br /><br />“Smartphones are the new battlefield for the gaming industry,” explains Masamitsu Ohki, a fund manager with Tokyo-based Stats Investment Management Co. “Nintendo should try to either buy its way into this platform or develop something totally new.”<br /><br />Alleged proof of that idea, Nintendo’s shares jumped on July 6 after former unit Pokemon Co. announced its intentions to develop a game for both the iPhone and Google Android -- the largest stock jump in almost four months. Rumors quickly began to spread that Nintendo may be softening their position on developing for competing platforms, but the company quickly threw cold water on the idea.<br /><br />“They just don’t get it,” MF Global FXA Securities Ltd. said in a sales note that day, referring to Nintendo. “Sell the stock, because a management once feted for creative out-of-box thinking have just shown how behind the times they are.”<br /><br />While Nintendo’s fortunes have faltered in recent months, the same cannot be said of iOS and Facebook developers, including Rovio’s Angry Birds and the popular Farmville and CityVille titles from Zynga Inc.<br /><br /><em>Follow this article’s author, <a href="http://www.twitter.com/JRBTempe" target="_blank">J.R. Bookwalter on Twitter</a><br /><br />(Image courtesy of Bloomberg)</em></p><p><em><strong>NOTE: Headline updated to denote that iPhone or iOS was never specifically mentioned by fund manager. </strong><br /></em></p><p>&nbsp;</p>http://www.maclife.com/article/news/fund_manager_nintendo_let%E2%80%99s_make_smartphone_thing_happen#commentsNewsanalystsandroidApp Storeapp store gamesGamingInvestorios gamingnintendoNintendo 3DSiPhoneThu, 11 Aug 2011 12:37:10 +0000J.R. Bookwalter12005 at http://www.maclife.comApple Closes as World's Most Valuable Companyhttp://www.maclife.com/article/news/apple_closes_worlds_most_valuable_company
<!--paging_filter--><p><img src="/files/u220907/apple_0.jpg" alt="apple" width="200" height="150" class="graphic-right" />As most of you have no doubt seen by now, it has been a wild ride in the stock markets across the globe this week.&nbsp; Despite the volatility, Apple did have a bright spot in that it was able to close today as the world's most valuable company, overtaking Exxon Mobil.&nbsp; <br /><br />Yesterday, Apple had passed Exxon Mobil on several occasions as the most-valuable publicly traded company, but the oil giant ended ahead of Apple.&nbsp; Today was a different story, despite both companies' stock prices being down.&nbsp; The difference maker though was that Exxon Mobil finished lower, clinching the spot for Apple.<br /><br />Apple finished at $363.49, with a market cap of $337.17 billion.&nbsp; Exxon Mobil finished at $68.03, with a valuation of $330.88 billion.<br /><br />That said though, while Apple may currently be worth more than Exxon Mobil, Exxon is still the bigger company.&nbsp; Exxon raked in $10.7 billion in profit on $121.4 billion in revenue in the June quarter with 83,600 employees.<br /><br />By comparison, Apple made $7.3 billion on $28.6 billion in revenue with 46,600 employees last quarter.&nbsp; <br /><br /><em>via <a href="http://www.macrumors.com/2011/08/10/apple-closes-as-the-most-valuable-company-in-the-world/">MacRumors</a></em><br /><br /><em>Follow this article's author, <a href="http://www.twitter.com/mtilmann">Matthew Tilmann on Twitter</a></em></p><p>&nbsp;</p>http://www.maclife.com/article/news/apple_closes_worlds_most_valuable_company#commentsNewsappleExxonMobilfinancialinvestingInvestmentsInvestorstock marketThu, 11 Aug 2011 02:43:49 +0000Matthew Tilmann12003 at http://www.maclife.com